The first nine companies which will be run by outside managers are postal services provider Posta Romana, airline Tarom, hydropower generator Hidrolectrica, chemical plant Oltchim (OLT.RO), railway companies CFR Marfa and Electrificare CFR, mining company Societatea Nationala a Lignitului Oltenia, military defense contractor Romarm and energy supplier Electrica Furnizare.
According to the letter, which was obtained by MEDIAFAX, railway companies CFR and CFR Calatori, alongside power companies Nuclearelectrica and Translectrica (TEL.RO) and natural gas companies Transgaz (TGN.RO) and Romgaz will also have private managers starting with 2012.
Romania and the IMF have signed in March a EUR3.5 billion two-year precautionary loan agreement, successor to a EUR20 billion bailout package received during May 2009- March 2011. The new deal also includes EUR1.4 billion financing from the European Union and a EUR400 loan from the World Bank.
Under the agreement, the authorities in Bucharest agreed to sell minority stakes in several key state-run companies and to place 15 such companies under private management.